Aeropostale Posts 81% Surge in Profit
05/21/09 - 05:51 PM EDT
tried to shed its value-conscious message. Well, good thing they couldn't -- because it's those consumer-friendly prices that continue to pay off for the teen retailer.
Aeropostale saw a whopping 81% surge in first-quarter profit to $31.7 million, or 47 cents a share, up from $17.5 million, or 26 cents, in the year-ago period.
The news sent shares up 4% to $33.80 in after-market trading.
Results include a pre-tax charge of 2 cents a share for the closure of the Jimmy 'Z concept.
Sales jumped 21% to $408 million from $336.3 million last year, while total same-store sales shot up 11%.
Looking forward, the company expects earnings in the range of 43 cents to 45 cents a share, compared with 31 cents in the second quarter last year.
Last week, rival
Abercrombie & Fitch
swung to a loss in its first quarter
, and announced that it will conduct a strategic review of its Ruehl concept.